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AppOnboard raised $20 million in a funding round led by Raine Ventures, with further participation from Gaingels, Galaxy Venture Capital, Manta Ray, and London Venture Partners.
This brings funding to a total of $54 million to date for the company behind Buildbox, an engine that requires no programming experience.
Buildbox was launched in May 2019 and supports mobile and PC development. AppOnboard reported that in the past three months, the engine s market share has grown by 550%, with nine games made using the engine reaching the top 100 App Store charts. Its community of creators recently reached one million, up from 3,000 a year ago.
The funding round will help the company scale its operations following this growth, the announcement said.
A month into 2021, these women entrepreneurs have sealed important funding deals
From managing public transport to popularising traditional Indian handicrafts, these women led-startups have raised funding this month.
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One of the biggest difficulties that entrepreneurs face is raising funds from the right investors. The process is even more challenging for women entrepreneurs.
Despite a 11-time increase in women entrepreneurs in the tech space between 2018 and 2020, they secured only 1.43 percent of the funding deals between this period, according to the State of Women in Tech Entrepreneurship, a report released by
MAKERS India and YourStory Media.
However, several women have managed to close successful funding deals even as the economy slowed down last year due to the COVID-19 pandemic.
The Internet has eliminated many barriers to creativity in recent years. Anyone can be a director, movie star or recording artist without much help, thanks to YouTube, Spotify and TikTok. Zweig believes “video-game designer” will be the next addition to that list, and that Buildbox will be the company to make it happen. Pixabay
Growing up in the 1980s, Jonathan Zweig and Mike Seavers dreamed of making their own video games. But designing a proper game required a mastery of computer code, something neither would attain until adulthood.
They are hoping their company, Buildbox, can change that. Buildbox has raised US$20mil (RM81.07mil) from investors such as Raine Ventures, Galaxy Venture Capital and Manta Ray to build out software that allows anyone to create a video game without needing to know code. Close to one million people have already used Buildbox’s software to create games, which have been played by more than 100 million people, according to Zweig. This new funding w
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